Assenagon Asset Management S.A. Grows Holdings in Community Health Systems, Inc. $CYH

Assenagon Asset Management S.A. grew its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 53.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,110,655 shares of the company’s stock after purchasing an additional 388,116 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.80% of Community Health Systems worth $3,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CYH. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Community Health Systems during the third quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Community Health Systems in the third quarter valued at approximately $39,000. R Squared Ltd bought a new position in Community Health Systems in the third quarter worth approximately $40,000. GK Wealth Management LLC purchased a new position in Community Health Systems during the 4th quarter worth $41,000. Finally, DoubleLine ETF Adviser LP bought a new stake in Community Health Systems during the 3rd quarter valued at $44,000. Institutional investors own 84.99% of the company’s stock.

Community Health Systems Price Performance

CYH opened at $2.87 on Monday. The firm has a market capitalization of $397.16 million, a PE ratio of 0.76 and a beta of 2.10. The business’s 50-day moving average is $3.25 and its two-hundred day moving average is $3.29. Community Health Systems, Inc. has a 1 year low of $2.24 and a 1 year high of $4.47.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CYH. Wells Fargo & Company dropped their price target on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings cut shares of Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 19th. Truist Financial set a $4.50 price target on shares of Community Health Systems in a report on Monday, January 5th. Zacks Research raised shares of Community Health Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, UBS Group lifted their price objective on shares of Community Health Systems from $3.60 to $3.70 and gave the company a “neutral” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Community Health Systems currently has an average rating of “Hold” and an average price target of $3.62.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.